Carolinas HealthCare System Wins State Approval for $33M Hospital in Huntersville

By Amalia Otet, Associate Editor
While the economy is still sluggish, the housing market is showing signs of a rebound. The Charlotte metropolitan area is currently seeing an improvement in home sales; according to a report released by the Charlotte Regional [...]

While the economy is still sluggish, the housing market is showing signs of a rebound. The Charlotte metropolitan area is currently seeing an improvement in home sales; according to a report released by the Charlotte Regional Realtor Association, a sound 12.4 percent increase in closings was reported, as compared to the same period last year—from 1,674 in October 2010 to 1,882 in October 2011. The median sales price, however, decreased 1.3 percent, from $154,000 in October 2010 to $152,000 in October 2011. Average home sales prices for the month were $194,837, dropping 3.6 percent from October 2010’s $202,146.

On the other hand, the commercial sector of real estate is rather flourishing. Citybizlist reports that AREA Property Partners and DW Management Co. LLC have secured financing for the acquisition of Class A industrial buildings in Chicago and Charlotte, totaling more than 1 million square feet. Cushman & Wakefield Sonnenblick Goldman’s Atlanta office has arranged $25.7 million in acquisition debt financing for the partnership, in the form of a five-year fixed rate loan.

In other regional news, Carolinas HealthCare System has announced that it has won state approval for a new 66-bed behavioral health hospital, which will be built on CHS-owned land near Huntersville Oaks nursing home, according to the Mecklenburg Times.

“We are very pleased with the state’s endorsement of the need for this new hospital,” said CHS Executive Vice President Russ Guerin in a press release. “The development of this new hospital moves us closer to addressing a critical need in our community for more resources to serve behavioral health patients. We are eager to start construction quickly and have this new hospital open to serve patients.”

The 71,700-square-foot, single-story building will feature all private rooms and will have about 155 full-time employees. Costs are expected to be around $33 million.